mjunction plans acquisitions

Special Correspondent

Customer orientation to

drive B2C business

Company targets

to add 100

retail products

KOLKATA: mjunction services, the 50:50 joint venture of SAIL and Tata Steel and India’s largest e-commerce company, is keen on making acquisitions as a means of inorganic growth.

mjunction founder CEO and Managing Director, Viresh Oberoi, said that in fiscal 2009, the company’s focus would be on consolidating its presence in the verticals, but “it will also be looking at inorganic growth through strategic acquisitions”.

“We will be driving our B2C businesses with an increased customer orientation”, he said adding that the two B2C initiatives of the company, autojunction and straightline, were expected to ramp up their businesses this year.

Strategic units

mjunction services has six strategic business units — metaljunction, coaljunction, buyjunction, autojunction, straightline and mjunctionedge. Business volume of the company in terms of transaction value was Rs. 94 crore in 2001-02, its first year of operations. Cumulative transaction value stands at Rs. 30,800 crore to-date.

Company sources said that the steel e-sales business unit of the company traded 2.25 million tonnes of steel in 2007-08 which is expected to increase to around 2.6 million tonnes.

For straightline, mjunction is targeting to add over 100 retail products spanning across apparel, books, gadgets, handicrafts, music, gaming, whitegoods and electronics.